Pursuant to 10 U.S.C. Very Good (i) Except as provided in paragraph (c)(2)(ii) of this section, if an indefinite-quantity contract for advisory and assistance services exceeds 3 years and $15 million, including all options, the contracting officer must make multiple awards unless-. (v) Prohibit earning any award fee when a contractor’s overall cost, schedule, and technical performance in the aggregate is below satisfactory; (vi) Provide for evaluation period(s) to be conducted at stated intervals during the contract period of performance so that the contractor will periodically be informed of the quality of its performance and the areas in which improvement is expected (e.g.                 (i) Describe the method for determining prices to be paid to the contractor for the supplies or services; (This does not apply to prompt payment or cash discounts.) (ii) Contract number and order number.                               (i)Publish a notice in accordance with5.301; and (C) The contracting officer must document the decision whether or not to use multiple awards in the acquisition plan or contract file. General Steps for an Agreement Structure 3. 16.306 Cost-plus-fixed-fee contracts. Basic ordering agreements may need to be revised before the annual review due to mandatory statutory requirements. The contracting officer should consider using an economic price adjustment clause based on cost indexes of labor or material under the circumstances and subject to approval as described in paragraphs (d)(1) and (d)(2) of this section. (c) Indefinite-delivery contracts may provide for any appropriate cost or pricing arrangement under part  16.            (3) Actual cost that is below the target will result in upward adjustment of target profit or fee. A definite-quantity contract provides for delivery of a definite quantity of specific supplies or services for a fixed period, with deliveries or performance to be scheduled at designated locations upon order. 16.504 Indefinite-quantity contracts. (c) Billing prices.                          (2)Provide the justification and supporting documentation along with the solicitation to all contract awardees. (3) The contracting officer shall neither make any final commitment nor authorize the contractor to begin work on an order under a basic ordering agreement until prices have been established, unless the order establishes a ceiling price limiting the Government’s obligation and either- The contracting officer should establish a reasonable maximum quantity based on market research, trends on recent contracts for similar supplies or services, survey of potential users, or any other rational basis. Economic price adjustments are of three general types: The final cost is then negotiated at completion, and the final profit is established by formula, as under the fixed-price incentive (firm target) contract (see 16.403-1 above). For use of economic price adjustment in sealed bid contracts, see 14.408-4. It is essential that the uncertainties involved in performance and their possible impact upon costs be identified and evaluated, so that a contract type that places a reasonable degree of cost responsibility upon the contractor can be negotiated. If urgency is a primary factor, the Government may choose to assume a greater proportion of risk or it may offer incentives tailored to performance outcomes to ensure timely contract performance. (2)Nature and/or description of the action being approved. (2) When the production point specified in the contract is reached, the parties negotiate the firm target cost, giving consideration to cost experience under the contract and other pertinent factors. (3) Indefinite-quantity contracts limit the Government’s obligation to the minimum quantity specified in the contract. (This formula normally provides for a lesser degree of contractor cost responsibility than would a formula for establishing final profit and price.) There are thousands of these contracts exchanged on a daily basis, and, therefore, they are issued in a standardized format to streamline the process. (a) A wide selection of contract types is available to the Government and contractors in order to provide needed flexibility in acquiring the large variety and volume of supplies and services required by agencies.                      (C) How the Government will manage and mitigate the risks. A cost-plus-award-fee contract is a cost-reimbursement contract that provides for a fee consisting of (1) a base amount fixed at inception of the contract, if applicable and at the discretion of the contracting officer, and (2) an award amount that the contractor may earn in whole or in part during performance and that is sufficient to provide motivation for excellence in the areas of cost, schedule, and technical performance. This determination shall be documented in the contract file and, for award-fee contracts, shall address all of the suitability items in 16.401(e)(1).       (a) Commit the Government to a definitive contract in excess of the funds available at the time the letter contract is executed; This contract type shall not be used unless-       (a) A fixed ceiling price; and (2) If all conditions in paragraph (b)(1) of this subsection apply and the contracting officer determines that the use of the clause at 52.216-3 is inappropriate, the contracting officer may use an agency-prescribed clause instead of the clause at 52.216-3. (1) Except as provided in paragraph (b)(2)(ii)(D)(5) of this section, within 14 days after placing an order exceeding the simplified acquisition threshold that does not provide for fair opportunity in accordance with16.505(b), the contract officer shall—                (iii) Include a statement of work, specifications, or other description, that reasonably describes the general scope, nature, complexity, and purpose of the supplies or services the Government will acquire under the contract in a manner that will enable a prospective offeror to decide whether to submit an offer; For additional requirements for cost-reimbursement orders, see 16.301-3. (j) Concurrent contracts. (iii) (a) Description. (4) The ability to maintain competition among the awardees throughout the contracts’ period of performance. (4) Discontinuing or modifying a basic agreement shall not affect any prior contract incorporating the basic agreement. (c) Limitations. (iii) One or more identifiable labor or material cost factors are subject to change. (2)Exceptions to the fair opportunity process. Thus prices for forward contracts often come with premiums because of the additional credit risk. (i) The contracting officer shall document in the contract file the rationale for placement and price of each order, including the basis for award and the rationale for any tradeoffs among cost or price and non-cost considerations in making the award decision. (iii) The contracting officer has made the determination specified in 16.203-3.            (1) Available cost or pricing information is not sufficient to permit the negotiation of a realistic firm target cost and profit before award; 16.405-1 Cost-plus-incentive-fee contracts. (B) The justifications for brand-name acquisitions may apply to the portion of the acquisition requiring the brand-name item.                                    (A) Products for which unit prices are established in the contract; or (g) Period of performance or length of production run. (1) The contracting officer shall insert the clause at 52.216-12, Cost-Sharing Contract-No Fee, in solicitations and contracts when a cost-sharing contract is contemplated. The contract type remains firm-fixed-price when used with these incentives. If the justification is to cover only the portion of the acquisition which is brand-name, then it should so state; the approval level requirements will then only apply to that portion.

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